Tesla (NASDAQ:TSLA) rolled out a new budget-friendly version of its Model 3 sedan in Europe on Friday, months after the variant first became available to U.S. buyers, according to updated pricing on the company’s website.

The automaker said the new Model 3 Standard aims to boost demand across Europe, where Tesla faces intensifying competition from lower-priced electric vehicles offered by both European and Chinese rivals.

The launch follows the debut of a reduced-price Model Y in the region in October, part of Tesla’s broader effort to retain its position in an increasingly crowded EV market.

Pricing for the Model 3 Standard starts at €37,970 ($44,299.60) in Germany, 330,056 Norwegian kroner ($32,698) in Norway, and 449,990 Swedish kronor ($47,820) in Sweden.

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